15.2-2323 - When impact fees assessed and imposed. - Virginia Statutes

§ 15.2-2323. When impact fees assessed and imposed.

The amount of impact fees to be imposed on a specific development orsubdivision shall be determined before or at the time the site plan orsubdivision is approved. The ordinance shall specify that the fee is to becollected at the time of the issuance of a building permit. The ordinanceshall provide that fees (i) may be paid in lump sum or (ii) be paid oninstallment at a reasonable rate of interest for a fixed number of years. Thelocality by ordinance may provide for negotiated agreements with the owner ofthe property as to the time and method of paying the impact fees.

The maximum impact fee to be imposed shall be determined (i) by dividingprojected road improvement costs in the impact fee service area when fullydeveloped by the number of projected service units when fully developed, or(ii) for a reasonable period of time, but not less than ten years, bydividing the projected costs necessitated by development in the next tenyears by the service units projected to be created in the next ten years.

The ordinance shall provide for appeals from administrative determinations,regarding the impact fees to be imposed, to the governing body or such otherbody as designated in the ordinance. The ordinance may provide for theresolution of disputes over an impact fee by arbitration or otherwise.

(1989, c. 485, § 15.1-498.6; 1992, c. 465; 1997, c. 587; 2007, c. 896.)